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Walsall FC earn cash boost from transfers
Saturday 14th January 2012, 10:59AM GMT.
Transfer cash helped Walsall post a profit after they banked much-needed money.
The Saddlers announced a £9,000 profit yesterday after money from Troy Deeney’s move to Watford in August 2010 was taken into account.
The sale of the striker – for a reported fee of £500,000 although the Saddlers didn’t receive all the cash up front – was vital and the club also slashed their debt by £241,000.
A sell-on fee earned from Matty Fryatt’s switch from Leicester to Hull also meant Walsall’s football and commercial income for the year ending May 31 was £4.491m.
Turnover increased to £5.383m – up £19,000 from 2010 – and the net debt now stands at £2.559m.
Director Leigh Pomlett also put in £200,000 for the first time as a condition for joining the board in 2010 and the club paid back chairman Jeff Bonser £145,296. He is now owed £1.7m.
Match receipts also increased by £9,000 to £892,000 after the offer of free football for under-18s saw a 30 per cent rise in season ticket sales.
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